Analysts Set Schlumberger Limited (NYSE:SLB) Target Price at $54.79

Schlumberger Limited (NYSE:SLB) has been given a consensus rating of “Moderate Buy” by the twenty analysts that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $54.79.

A number of equities research analysts have recently issued reports on the stock. Barclays reduced their price target on shares of Schlumberger from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. Piper Sandler started coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target for the company. Wells Fargo & Company dropped their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st.

Insider Activity

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. This represents a 15.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 315,905 shares of company stock valued at $13,609,283 in the last three months. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

A number of institutional investors have recently modified their holdings of the stock. State Street Corp boosted its holdings in Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after purchasing an additional 528,279 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Schlumberger by 7.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,986,195 shares of the oil and gas company’s stock worth $2,913,312,000 after acquiring an additional 5,225,828 shares during the period. Geode Capital Management LLC lifted its holdings in Schlumberger by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company’s stock worth $1,146,195,000 after acquiring an additional 1,377,134 shares during the last quarter. Deutsche Bank AG raised its position in shares of Schlumberger by 12.2% during the 4th quarter. Deutsche Bank AG now owns 28,737,703 shares of the oil and gas company’s stock worth $1,101,804,000 after purchasing an additional 3,119,543 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Schlumberger by 1.2% in the 4th quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company’s stock worth $1,067,254,000 after purchasing an additional 343,261 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $34.77 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger has a fifty-two week low of $34.04 and a fifty-two week high of $55.65. The stock’s 50-day simple moving average is $41.02 and its 200-day simple moving average is $41.45. The firm has a market capitalization of $47.28 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter in the prior year, the business earned $0.86 EPS. Schlumberger’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that Schlumberger will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.285 per share. The ex-dividend date was Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 3.28%. Schlumberger’s dividend payout ratio is currently 36.66%.

About Schlumberger

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.